German exports decrease 3.4% in November amid Europe's woes
APBERLIN--Exports from Germany, Europe's biggest economy, were sharply lower in November compared with the previous month amid economic weakness elsewhere on the continent.
January 9, 2013, 12:09 am TWN
The Federal Statistical Office said Tuesday that exports — a traditional strength of the German economy — dropped 3.4 percent. Adjusted for seasonal and calendar factors, they totaled 89.6 billion euros (US$117 billion). Imports were down 3.7 percent at 75.1 billion euros (US$98 billion).
Growth in Germany slowed in 2012 after two strong years, but the economy is expected to pick up after a weak fourth quarter and continue growing in 2013.
Compared with a year earlier, exports were unchanged in November. A 5.7-percent decline in exports to other countries in the 17-nation eurozone contrasted with a 5.6-increase in those to nations outside the European Union.